Frequently Asked Homeowner Questions

WHAT DO I DO?

We know it is a big decision to sell your property, and we want to make it as easy as possible, and make sure you are informed and educated about the process along the entire way. Here are some of our most frequently asked homeowner questions, feel free to browse through and ask any additional questions you have through the chat or our contact form.

Do I have to fix the property up?

Absolutely NOT! This is one of the greatest benefits we provide for sellers. We relieve them from the burden of costly repairs or time consuming cleaning. Our goal is to make the selling process as easy as possible so you can move on with your life.

When do I have to move out?

You move at a date of your choosing. We typically take possession of the property at closing, meaning that you would move out of the property at least the day before closing. However, we can adjust the date of closing to what works for you, especially if you are coordinating around another property purchase or rental.

How quickly can EPI close?

We typically close within two weeks after a signed contract. We will put together a written offer within 3 days of seeing your property, and then you can set the closing date. Unlike traditional buyers, we can close on your schedule. In comparison, the traditional home selling process can take as long as four months (including: preparing for the listing, showing the house until an offer is received, and then a 45 day minimum standard closing period)

How long does the process take?

Once you contact us we will schedule a meeting to see the property, and then we will have a written offer to you within 3 days. After we have a singed contract, it will be as early as two weeks for you to walk away with your money and move on with your life.

How much does EPI charge?

Unlike traditional real estate selling methods where commissions are paid out, we as a direct buyer don't charge any transaction fees. We get paid based off of the equity we create after we 'enhance' the property. Unlike other real estate investors who are assigning the contract to another buyer for a fee; we are the direct buyer.

Does EPI only buy single family homes?

No. Although we predominantly buy single family homes, we buy all types of real estate property including multifamily property and sometimes even vacant land, throughout the Space Coast of Florida.

Will EPI need a property inspection?

Yes, we will perform a third party property inspection during the contract period, often within the first week of signing the contract. The property inspection will be scheduled at a time that is convenient to the seller, and we will share the report with the seller at their request if there are any issues. We generally use the inspection to create our final work list of fixing up the property.

Does EPI buy properties that are occupied by tenants?

Yes. We do expect there to be a legal lease agreement in place, but even if that is not the case we can still work with you.

What if I have a lien or code violation against the property?

Liens can include issues such as mortgages, contractors "mechanic's liens," unpaid utility bills, or unpaid HOA assessments. Even if there are liens against the property, EPI will be able to work with you to resolve these problems and buy your property. Any liens will be addressed by the title company as part of the closing process; liens are paid out of the proceeds prior to title issuing the seller a check. Prior to closing, a detailed statement of all closing costs including any liens will be provided to the seller by the title company. This will clearly illustrate how much the seller will receive. EPI will determine if there are any specific code violations against the property and will address them after we purchase the property.

How does EPI determine the offer made for my property?

Often times sellers are surprised to see how much we offer on the property especially after they've received other offers from investors in the area. Offers are determined from performing a comparable market value and adjusting for the extent of repairs. By building relationships with local licensed contractors, EPI has been able to reduce its costs to renovate properties and pass those savings on to the sellers; by offering more when we buy.

Do I need to hire an attorney?

No, while you don't need to hire an attorney, you may use an attorney to review documents if you prefer. You do not need an attorney to sell a piece of real estate in Florida. If you are in a situation such as probate or bankruptcy, you may need an attorney for those specific needs.